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News Corp Completes the Sale of Foxtel Group to DAZN

1. News Corp completed the sale of Foxtel to DAZN for A$592 million. 2. Regulatory approvals facilitated the transaction, impacting News Corp's financial position.

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FAQ

Why Bullish?

The sale improves News Corp’s balance sheet by reducing debt from shareholder loans, which historically enhances stock performance. Similar past transactions have led to immediate positive market reactions for media companies.

How important is it?

The completion of the sale directly affects News Corp's financial health, likely influencing investor confidence and stock price. The transaction size indicates significant capital movement, heightening investor interest.

Why Short Term?

The immediate financial relief and regulatory approvals typically indicate short-term stock appreciation. Historically, such sales lead to optimistic market sentiment within a few weeks.

Related Companies

DAZN
SYDNEY--(BUSINESS WIRE)--News Corporation (“News Corp” or the “Company”) today announced it has completed the sale of Foxtel Group (“Foxtel”) to DAZN Group Limited (“DAZN”). The completion of the transaction follows DAZN receiving approval for the acquisition of Foxtel from the Foreign Investment Review Board, the Australian Competition and Consumer Commission and other regulatory authorities. At completion, A$592 million in shareholder loans were repaid to News Corp, and News Corp received a m.

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